Bank of England settles staff pay dispute

LONDON — A pay dispute that saw Bank of England staff go out on strike for the first time in decades has been settled.

In a statement released Tuesday, Unite said its members accepted the revised offer from the bank to end the dispute that led to a three-day strike in August. In a ballot, 60 per cent of Unite members backed the new offer from the bank that includes more annual leave for staff and a payment to lower-paid employees.

Mercedes Sanchez, Unite regional officer, said members “have shown that by standing firm against an employer attempting to ignore their rights they can succeed.”

The bank said the agreement includes a range of measures focused on “improving our relationship with Unite and involving them more in pay discussions.”